First Citizens Bank & Trust Co. Has $1.46 Million Position in The Charles Schwab Co. (NYSE:SCHW)

First Citizens Bank & Trust Co. reduced its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 14.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,685 shares of the financial services provider's stock after selling 3,184 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Charles Schwab were worth $1,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SCHW. Norges Bank bought a new stake in shares of Charles Schwab during the 4th quarter valued at about $1,289,544,000. Kovitz Investment Group Partners LLC increased its holdings in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after buying an additional 8,584,173 shares during the last quarter. FMR LLC raised its stake in shares of Charles Schwab by 69.4% in the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after buying an additional 3,974,940 shares during the period. Marshall Wace LLP lifted its stake in shares of Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the completion of the sale, the insider now directly owns 45,824 shares in the company, valued at approximately $3,548,152.32. This represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,608 shares of company stock valued at $8,392,040. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

SCHW stock traded up $0.06 during trading hours on Tuesday, hitting $88.27. 5,438,126 shares of the stock traded hands, compared to its average volume of 9,382,831. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $160.39 billion, a P/E ratio of 29.52, a P/E/G ratio of 0.99 and a beta of 0.94. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $89.85. The stock has a 50-day simple moving average of $81.93 and a 200 day simple moving average of $79.67.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same quarter last year, the firm earned $0.74 earnings per share. Equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SCHW. Piper Sandler upped their target price on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Morgan Stanley increased their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. JMP Securities reiterated a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a research note on Monday, April 21st. Finally, Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.25.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.